Hurricane Sandy insurance claims News

Coverage Analysis: Sandy and Contingent Business Income Losses

Insureds joined in a mutually beneficial (or even exclusively beneficial) relationship with another business entity rely on the continued operational viability of that “non-related” entity. Their dependence on the goods, services, or mere presence of these external businesses leaves the …

Controversy Over Hurricane Deductibles May Just Be Beginning

When the National Hurricane Center declared Sandy a “post-tropical storm” just before it made landfall, a lot of homeowners across New Jersey, New York, Connecticut and Maryland may have saved a lot of money. The governors of these states have …

Hurricane Sandy Losses Should Not Affect Most Insurer Ratings or Premiums: S&P

Standard & Poor’s Ratings Services said it expects Hurricane Sandy to have only limited impact on the ratings on U.S. property/casualty insurers, global reinsurers, and certain catastrophe bonds. Although it anticipate that losses from Sandy will affect (re)insurers’ fourth-quarter earnings …

Hurricane Sandy Unlikely to Trigger Payouts from Catastrophe Bonds

Investors who have put their money into specialist financial bonds which cover insurance companies from huge natural disasters are unlikely to be hit with big losses from monster storm Sandy even though it is one of the biggest ever to …

Hurricane Sandy Losses Expected to Top Irene’s

Hurricane Sandy appears to have easily caused more losses than last year’s Hurricane Irene, but final totals will be hard to come by for some time because of the scale of the disaster, catastrophe forecasting companies said on Tuesday. Sandy …

P/C Insurers Can Handle Sandy Losses; Flood Program to Bear Brunt

Ratings analysts at A.M. Best Co. said  that it is likely that the brunt of Hurricane Sandy’s financial impact will fall on the National Flood Insurance Program (NFIP), which is responsible for almost all flood coverage in the country. For …

Hurricane Sandy Delivers Severe But Short-Term Economic Blow: Economists

Hurricane Sandy is shaping up to be one of the biggest storms ever to hit the United States but even with the severe damage that is expected, the blow to the economy is seen as short-term. Economists say some of …

European Insurance Stocks Hit by Hurricane Sandy Fears

European shares fell for the first time in four sessions on Monday, with insurance stocks hit by concern about their exposure to the U.S. hurricane, while a backdrop of weak company results also weighed. Traders added that the bias was …

Insurers Prepare for Hurricane Sandy

Insurers say they are making the usual preparations for a hurricane – activating claims teams, staging adjusters near the locations most likely to be affected and generally getting ready to pay for a potentially huge volume of losses. “We plan …